VanEck’s new NFTs are designed to showcase the real-world utility of non-fungible tokens.
Global investment manager VanEck has announced the launch of a community NFT based on the Ethereum in partnership with the South Korea-headquartered creative NFT agency, NUMOMO. This is the first such initiative unveiled by the firm and involves the release of 1,000 VanEck NFTs.
According to the official press release, the community NFTs are designed to demonstrate the real-world utility inherent in the NFT structure and will be based on a fictional character, Hammy (modeled after Alexander Hamilton). While explaining more on the character, JP Lee, VanEck Community NFT Co-Founder, said,
“Since NFTs first emerged as a means to showcase compelling digital art, we haven’t overlooked that part of the equation either. Our NFTs will all feature eye-popping 3D avatars and narrative-style videos that will help create a real sense of story and spur discussion, debate, and community. Our character ‘Hammy’ is going to be an outstanding guide for anyone interested in seeing the past, present, and future of finance unfold.”
VanEck plans to release a total of 1,000 NFTs which will be categorized as – commons (which will total 750), rare (approximately 230), and legendary (approximately 20). Based on these three tiers, each NFT holder will be granted access to a variety of special benefits. Adding to this, Matthew Bartlett, VanEck Community NFT Co-founder revealed that the initiative is designed to serve as a digital membership card that would offer holders exclusive access to a myriad of events, digital asset research, and an inclusive community of digital assets enthusiasts and investors.
The latest news comes less than three weeks after Jan van Eck, VanEck’s Chief Executive Officer, said he was “wowed” by the “whole NFT phenomenon.” He also predicted that blockchain technology would completely transform Wall Street. As reported earlier, the exec had said that the reason for delayed adoption was due to the regulators.
In March, the investment manager had launched Digital Assets Mining ETF (DAM), that focuses on plaftorms involved in the crypto asset mining industry. However, its ambition to roll-out highly-anticiapted spot Bitcoin exchange-traded fund (ETF) has been put on hold by the US Securities and Exchange Commission (SEC).